1. Choosing a Broker - Forex Trading - video Dailymotion

DONGIX HOBBIES

Choosing a Broker #forex #trading #gold #bitcoin #video #watch #foryou

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00:00hello and welcome back thank you for choosing this course now let's get started okay the first topic

00:08that we're going to discuss is choosing a broker so i know that if you're an advanced trader this

00:14topic might sound boring to you but let's try and accommodate everyone okay thank you so we need to

00:20only trade with the broker that is regulated by reputable financial authority in your country

00:26i cannot really tell you which broker is the best which one is not but you need to go and do your

00:31research on which broker you can trust with your funds and which one is regulated so how will this

00:37help you this will ensure that your funds are safe and that the broker is operating within the law so

00:44these are the things that you need to look for when choosing a broker account minimum you need to ensure

00:50that the broker allows a certain deposit to be deposited into your account so you don't want to

00:56sign up with the broker that is going to ask for a deposit that is way above your budget we need to

01:03also look at leverage we need to go and look at commissions and fees so these are the things that

01:09you need to go and do research on so it's important that you take into an account leverage but although

01:16it does not pay it does not play that much role for now which we will discuss further in this course

01:24as i said that this is a practical course so we also need to go and look for account types they offer

01:32i keep saying that we need to go but it's you who has to go and do research i'm sorry for that but

01:37i feel like we are a team now so we need to work together so also look at the supported payment method

01:43so that you are able to deposit with any payment method that you are comfortable with well i know that

01:51when it comes to withdrawal limits and times it's important to account for this because some some

01:56days you know in forex it's easy for you to deposit your money but to get it back you have to wait for

02:02like two days there's very big verification processes but if you want to deposit it takes you less than

02:09five minutes to get the funds in your account so it's important to check the withdrawal limits and the

02:15times so nextly for our day catch strategy our number one priority is to ensure that the broker

02:23has the lowest spreads so this will help us to secure profits early so you might be asking what

02:30is spreads but honestly if you're not too lazy i'm not not to sound too cliche but you need to go and do

02:38research on this stuff some of you might know this stuff you just wanna uncover the real strategy as i

02:44said i'm trying to accommodate everyone so the spread is the prior is the difference is the gap or the

02:51difference between the ask and the bid so as as you can see here on the blue line if i were to buy in

02:58this area so it means that it will open up there so as this is a daily strategy we we want to be able to

03:06secure profits early so these are some some of the truth about broker bonuses as i know that you might

03:15get tempted by the bonuses and you don't care to read the terms and conditions but please take notes

03:23before doing that so okay firstly let me say the benefits of a bonus well i know that as beginners

03:30it it gives you an opportunity to test that my techniques with in this case it's the strategy

03:37that i'm going to cover it gives you an opportunity to test my strategy in real time with real money

03:45so if you go and sign up with a broker that offers us a bonuses you can go and use my strategy to start

03:51to test it out before putting your heart and money so with all of the advantages of a demo account we

03:59know that demo account it can be okay but honestly when you go to a different account it's a different

04:05story you can make millions or thousands but when you go to a real account it's a different story so

04:12that's why i'm saying it's a benefit to sometimes uh use the the bonus to to test their strategy so

04:22this will help help you to keep your finances under the control so also it limits the risk

04:28management of you losing your capital so another point is that bonuses can assist uh to determine

04:35whether a broker is a fraud well most of the brokers they offer you your bonuses but for you to get

04:43the profits to your wallets is very hard because some of their terms and conditions are hard to meet

04:50but we'll talk about that in the in the disadvantages so also we need to account that the bonus money helps

05:02with um testing out different uh tools in the forex market so the order execution speed and the

05:10instruction so let's say during fundamentals you open a buy order or a buy and then for you to close it takes

05:19way too long because of the network so those are some of that uh uh these advances that we you need

05:25to look at when selecting a trusted broker okay okay these are the red flags we know that there's always

05:32a catch with forex marketers it's broad and everyone wants to come here and make money so it's important

05:39that you understand the number of lots you must trade uh before you utilize or withdraw your money so mostly

05:49some of the lots they are hard or difficult to meet so at the end of the day you're gonna trade and then

05:56let's say they give you 30 days for you to trade the 30 dollar accounts for you to withdraw that money

06:03it's very difficult because you couldn't meet the minimum a lot they wanted so always ensure that

06:11the minimum lot is reasonable so it's not all brokers that are ready to pay you so you can make profits

06:19and be unable to withdraw them at the end of the day you're gonna be saying ah forex is a scam i don't

06:25trust forex but honestly this is uh this is a foundation these are the important stuff that you

06:33need to learn before getting started in forex so that you don't risk your money so to get money traders

06:39are often obliged to reach a predefined trading volume so if you can't you can withdraw your cash

06:48which is a red flag because i want to spend my money i work a nine to five job

06:55i'm a college student and i want an extra income so if you've been looking for different strategies

07:01so this this is the foundation level that you need to understand as a beginner but as an advanced

07:06trader you already know the stuff but it might have added some knowledge to you but it's important

07:12to take into account some of these points that i've covered well how much is required to trade mostly

07:21when we come to forex how much should i invest after how long will i start seeing profits oh those

07:28questions i know they come a lot they come a lot and you come from different people but we need to

07:34understand that this strategy accommodates all types of investment from small accounts i like to focus on

07:41small accounts but because it's not everyone who can afford to invest big so we're going to use small

07:48accounts and grow them to big accounts in order for us to make a living out of this forex i should

07:55not get keep everything or anything because i'm not a forex guru so i'm not going to get keep

08:01anything from you guys i'm going to uncover everything that i have learned and a strategy

08:06that i've built myself that helps me to make big wins in the forex market so we're also going to

08:14learn how to use the best lot size for small accounts later in this chapter by the risk management

08:21so from me thank you see you in the next lesson

1. Choosing a Broker - Forex Trading

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